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TMI Blog2014 (1) TMI 1284X X X X Extracts X X X X X X X X Extracts X X X X ..... assessments are liable to be quashed if the substantive assessments got confirmed - the Ld CIT(A) confirmed the substantive assessments made in the hands of Shri K.P. Abdul Majeed, he has cancelled the protective assessments made in the hands of the assessees - Shri K.P. Abdul Majeed is the real beneficiary of the partnership firms and their bank accounts, which means, the substantive assessments made in the hands of Shri K.P. Abdul Majeed have been confirmed by the Tribunal - the Tribunal is also required to uphold the order of the CIT(A) in cancelling the assessments made in the hands of the assessees - if orders passed by the Tribunal in the case of Shri K.P. Abdul Majeed confirming the substantive assessments are reversed by any higher ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Majeed. Further enquiries revealed that:- (a) All the partnership firms have given their address as "1/1859, 'Nishanth', Beach Road, West Hill, Kozhikode - 673 005. It was found that the said building belonged to the assessee herein and he was residing there only earlier. (b) The telephone number of all the partnership firms was declared as "381491" in the bank records. The said telephone number was found to be installed in the above said premises. (c) All the firms have given the mobile number as "9847321007" and "9846126662". It was noticed that both the numbers were taken in the name of assessee's spouse named "Mrs. Umaiba". (d) All the partnership deeds were found to have been prepared by M/s Raghunath Associates, the advocat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... equest of Shri Asarulla Khan. He also submitted that the assessee herein came to the bank in order to open bank account in the name of his son Shri Asarulla Khan and again visited while granting loan to M/s National Sea Foods against the above said fixed deposit. (j) One of the partners of the partnership firms, named Shri K.T.Sharif confessed that he signed the partnership deeds at the instruction of Shri O. Kasim (another partner). He further stated that he is cousin brother of the assessee herein and he was working under him for distributing money to persons in Malappuram, Kondotty, Ponnani etc. on a salary of Rs.1000/- per month. He further submitted that he is a heart patient and many times he signed the partnership deeds and bank fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... herein. Accordingly, the Assessing Officer completed the assessments in the hands of the assessees herein making additions on protective basis. 7. All the assessees challenged the assessment orders passed in their respective hands by filing appeals before Ld CIT(A). During the course of appellate hearing, the counsel for all the assessees herein named Shri A.V. Muralidharan, Advocate submitted that these partnership firms are controlled by Shri K.P. Abdul Majeed only. The submission made by the Ld. Counsel was recorded in the order sheet of the appellate Commissioner and the same has been extracted in his order. Accordingly, the Ld CIT(A) upheld the assessments made on substantive basis in the hands of Shri K.P. Abdul Majeed by holding t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... addition and penalty should not be made in the name of the appellant firm. He further stated in view of the statement dated 08-05-2006 on which he is relying the subsequent statement of Shri Bineesh Mathew dated 30-06-2008 should be taken as incorrect. In view of the above, the argument given Shri Abdul Majeed comes into conflict and one more opportunity needs to be given to Shri Majeed to confront Shri Bineesh Mathew. Shri Muralidharan contended that there is no need to further repeat the process, because Shri Bineesh Mathew is not available immediately and again under cross examination from the lawyer of Shri KP Abdul Majeed, Shri Bineesh Mathew may retract his statement. In view of all this, he states that addition should be delet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ore this Bench of the Tribunal, which were disposed of by this bench of Tribunal by a separate common order confirming the view of the department that the real beneficiary of the partnership firms and the bank accounts is Shri K.P. Abdul Majeed only. However, the Tribunal did not accept the methodology adopted for determining the peak credit and accordingly held that the computation of peak credit requires to be re-computed in accordance with the discussions made in the order of the Tribunal. Accordingly, the matter relating to the determination of income was set aside to the file of the assessing officer. 12. It is a well settled proposition that the protective assessments are liable to be quashed if the substantive assessments got confi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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